Property Management Education
If you own Colorado rental property, it’s imperative that you make yourself aware of the rules and regulations surrounding security deposits. When a tenant vacates your property, properly processing the return of a security deposit can be a complicated process. What are the timelines you must abide by? How much can you deduct for a particular damage item? What are you not legally allowed to deduct? In this blog post, we will answer these questions and more to help ensure a smooth move out for both you and your tenant. Read More
If you are a self-managing rental property owner, it’s only a matter of time before you receive the dreaded phone call from your tenant alerting you to a maintenance issue. This could be a faulty appliance, HVAC, or any number of other common home repairs. Often the solution is to hire a competent third-party service provider to handle the repair. However, it’s important to remember that whoever you choose to complete the job is a direct representation of you as the property owner, meaning any unlawful behavior on their end could leave you on the hook with your tenant. Read More
Rental property investors often come to us with questions regarding renting to tenants with pets. Landlords and even property managers sometimes fall into the trap of charging a separate pet deposit, when the reality is an additional pet-specific deposit is not in the best interest of the property owner. Read More
What is subsidized housing and should you as a real estate investor incorporate it into your investment strategy? Read More
As a rental property owner, if you used leverage to buy, your goal is to pay the property off as quickly as possible. When a property is owned free and clear, that’s when it can really become profitable. In this blog, we will give a real-world example of how paying down your principal can help you pay off your mortgage faster and save you thousands in interest. Read More
Whether you as a rental property investor choose to hire a property manager or self-manage your rental investment portfolio, it’s essential that your vacant property is being marketed effectively. In this blog, we will identify the five key strategies to help you market your property for maximum exposure to find the quality tenants you desire, or to check that your property manager is doing these marketing actions on your behalf. Read More
"I am getting a service animal and it’s a turkey."
While this may seem silly or unrealistic, but the truth is this is a real story. As a landlord, what do you say? Do you know the laws around service animals? If you don’t, you should brush up because HUD doesn’t take service animals lightly. Let’s test your knowledge a bit. Read More
- They use cheap labor.
Plain and simple, home warranty companies hire cheap labor to do repairs. Why? Because they charge you upfront. The model is set against you because they have no real reason to hire high-quality repair vendors to maintain your property. Offering top-notch work isn’t advantageous to the home warranty company’s bottom line therefore you can expect customer service to suffer.
- They aren’t usually fast in response time.
As an investment property owner, one of your top priorities is keeping your tenants happy. If you have a great tenant in your property, you will do everything you can to keep them. Unfortunately that is not the case when it comes to home warranty companies. Again, because they are paid upfront, they don’t have to be fast when responding to issues at the property. They tend to take an attitude of, “I’ll get to it when I get to it.” When something breaks at your property, your tenants expect you to handle it quickly. If they don’t get a fast response time, they may decide to vacate when the lease term ends.
- They have minimum charges.
Most home warranty companies charge a service fee every time you call with a problem and often don’t cover typical repairs. Read the fine print and understand what is covered in your premium before making a decision.
- They are not in the business of losing money.
Home warranty companies are in the business of making money and that means they make more money on you than they will spend on you. It’s a flawed business model when it comes to offering quality customer service.
- How Often Should I Inspect My Rental Property?
- What Can I Charge to My Tenants Security Deposit?
- 3 Questions to Ask Before You Let a Repairman Into Your Rental Home
- Should You Own Your Rental Property in an LLC?
- Why You Should Never Charge a Pet Deposit
- Top 3 Colorado Cities for Real Estate Investors
- Pros & Cons of Investing in Subsidized Housing
- Don’t Hire a Property Manager Until You Check These 6 Things
- 6 Questions to Consider Before Turning Your Home into a Rental Property
- How to Pay Off Your Mortgage Faster
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